Dhaka, Bangladesh (BBN) – South Bangla Agriculture and Commerce Bank Ltd is working to highlight a product for elderly people aged above 55 at the Baking Fair Bangladesh-2015.

The elderly people who will avail the product will feel secure by depositing money with the bank.

The bank offers one per cent higher interest rate for the elderly people than that of its other savings products, Md Abu Bayazid Sheikh, a first vice president of SBAC Bank, told the BBN during the ongoing fair.

The product named “Senior Citizens” will provide 6.50 per cent interest rate while the bank offers 5.50 per cent rate of interest for the common savings products, Mr Sheikh said.

The bank has also begun providing free debit card to the clients since the opening date of the fair and the programme will continue in the days to come, he added.

The bank is also focusing its personal loan product at the fair.

A client will be allowed to receive maximum loan amounting to BDT 10 lakh with a minimum interest rate of 15 per cent under the product.

The repayment tenure of the loan is 10-years.

Bangladesh Bank Governor Dr Atiur Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday aiming to build a banking nation through boosting the ongoing financial inclusion campaign in Bangladesh.

The fair will be wrapped up this evening with a closing ceremony.

BBN/RZ/ANS